Retirement tax questions

You may need to review your input in TurboTax.  The amounts are calculated based upon your input.

You will this information in the federal interview section. 

1. Select Income & Expenses 
2. Scroll down through all income until you see Investment income 
3. Select Stocks, Mutual Funds, Bonds, Other 
4. Select Edit to the right of the applicable sale.  The next page will say Now, we'll enter one sale on your 1099B.
5. On the area titled Sales section, be sure to use the pull down arrow to select short-term gain as reported on your 1099-B. This will ensure your stock sale matches the amounts and classifications as reported on your 1099-B.

As far as the "Unknown Term gains," if these are sales reported on your tax return, E-Trade may not have your purchase date and therefore, does not have enough information to classify them as either short-term or long-term gains. 

You will need to manually look up and enter the purchase dates to ensure the sales are reported accurately. 

Any stocks sold within one year of purchase are considered short-term gains.  Any stocks sold after holding them for one year would be considered long-term sales.